05/10/2011 (THISDAY Live) - The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has listed steps to follow, in order to achieve economic growth projections for the country by 2012.

The President, NACCIMA, Dr. Herbert Ajayi, explained the need for Nigeria to pay serious attention to various sectors of economic growth for speedy economic transformation; come next year.

Ajayi, who spoke after the NACCIMA third quarter council meeting in Kano, said the nation should focus on agribusiness, which he said could be quickly stimulated in the nation by supplying one egg per day to children under the Universal Basic Education Scheme.

He said supplying all the inputs from within the nation, to carry out this initiative, could generate three to four million new jobs within the next four years.

He also called for the restructuring of the Agricultural Bank (NACRDB) to cover both agriculture and rural development, with a minimum capital of N1 trillion and interest rate at a maximum of 5 per cent.

He pointed out that extension services should be intensified throughout the country in order to provide a clearer understanding to the peasant farmers in respect of improved seedlings and animal breeds, the use of fertilisers, management of problems associated with pests and diseases, crop storage to mention a few.

He stressed the need for the re-introduction of commodity exchange market as a matter of urgency, be re-examined and implemented, also calling for developed competitiveness in agricultural value chain in cocoa, oil palm, cotton, cassava, sorghum, soya-bean and livestock by improving quality and efficient distribution of fertilisers, market reforms, Research and Development.

On the oil and gas sector he said there was a need for a faithful passage and implementation of the Petroleum Industry Bill (PIB) by the National Assembly and immediate action on Nigerian Content Act by its Board, saying that its domestication could also generate more than two million new jobs within the next four years.

“The private sector should play the role expected of it under the current economy and be invited to be part of the petroleum products supply chain reforms since the NNPC does not appear to have the capacity to solely meet the petroleum products needs of the country. At all cost, gas flaring should finally stop by end of 2012,” he said.

He also called for the fast-track implementation of the road map for electricity power sector reform to encourage and provide attractive incentives for the injection of more private capital, funds and management expertise into the nation’s power sector.

He also sought the facilitation of a communal scheme whereby stand-by generators are installed with change-over facility for power distribution within specific residential areas and estates and industrial clusters in the interim.

On education, Ajayi pointed out the need to enact legislation on the compulsory teaching of agriculture and Information Technology (IT) and computer appreciation at all levels.

“We should also emphasise the training in technical and vocational courses for public and private institutions in the country with attractive incentives for both the learner and the teacher, introduce entrepreneurial studies in our secondary and tertiary institutions to ensure the training of graduates for self-employment,” he said.

“We should re-introduce civics and value system at all levels of our educational system to re-orientate our children and youths in becoming law-abiding citizens,” he said.

On health, the president called for resuscitation and establishment of more community health centres and clinics, with adequate tools, sufficient drugs and adequate staffing throughout the country.

He also pointed out the need to improve, equip and upgrade other health facilities at all levels in the country, make all teaching and orthopaedic hospitals centres of excellence, encourage and institutionalise herbal medicaments and treatments.

According to him, the Gross Domestic Products (GDP) growth rate for the last three years of over 7 per cent yearly has not reflected in employment generation, infrastructural development or poverty reduction.

“However, the IMF has projected a 6.6 per cent real GDP growth rate for Nigeria in 2012. Consequently, we see increasing poverty, unemployment, frustration, youth restiveness, which must be urgently addressed,” he said.

“This is in spite of the N50 billion seed funding by the Federal Government for the national job creation scheme to address the level of unemployment reported by National Bureau of Statistics (NBS) as 19.7 per cent,” he added.

He said agricultural productivity and production, contributing about 42 per cent to GDP and employing about 60 per cent of workers, was receiving less than 2 per cent of total loanable funds while the oil and gas, contributing about 18 per cent to GDP and 90 per cent foreign exchange earnings, employing less than 5 per cent of workers and exporting about 90 per cent total expenses on off-shore suppliers of both materials and manpower.